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Rare commercial realestate development opportunity near queenstown
freehold going concern for sale, offers over $750,000+gst if any
potentially one of new zealand’s best real estate redevelopment opportunities – 560m² (approx.) of commercial buildings on a large 4,853m² (approx.) commercial land title, strategically located only 40 minutes from queenstown, on the only road to milford sound. Five-hundred-thousand plus tourists pre-covid travelled passed the door every year! (nzta 2019)
do the numbers – 560m² (approx.) commercial buildings divided by $750,000 equals $1,339m² (approx.) including land, buildings, business extensive chattels and existing goodwill of a very well established prime state highway hospitality and accommodation business that enjoys generous car parking.
Nuts & bolts:
this “art deco” single level complex houses a fantastic café/restaurant, with fully equipped commercial kitchen in the centre of the building, an awesome bar and courtyard to the north of the café and restaurant, and seven guest bedrooms (2 ensuited, 5 shared facilities guest bedrooms with two bathrooms and toilets) and an awesome guest lounge to the south of the café and restaurant.
There is a self- contained 2 bedroom owner/managers apartment behind the café with direct access to the various parts of the complex.
A self-contained backpackers complex on the rear western boundary, which provides 3 rooms and a shared bathroom and toilet, plus a separate kitchen. This complex could also be used for staff accommodation.
There is also a large undeveloped land area to the south of the complex that could be developed into more car parking or dedicated tour bus or tour minivan parking for tourist to stop going to or from milford and the other southern lakes.
Other out buildings to the rear of the complex could be converted to other tourist attractions including perhaps an artist in residence. The rear of the property could be developed to allow walking tracks and paths amongst redeveloped gardens as the sun sets to the rear of the complex and allows beautiful rural and mountain views.
Another option could be to relocate the portable building housing the backpackers and build self-contained ensuited cabins for the lucrative “around the mountain”cycle way, that runs through the town, and for the large number of fishers who fish the five fabulous rivers in the area.
The existing large bar area could be easily developed into two large retail tenancies to allow for many tourist type activities including a cellar door of the central otago wines, microbrewery, cheesery, homeware store, deli, bakery, collectables, foodstuffs, beverages, etc.
In terms of infrastructure, the power currently has 50 kva to the building, hot water is via infinity gas units, sewage system is onsite and water via a water bore shared with the neighbouring property. Several heat pumps and log fires ensure there is good heating in the complex.
There is also spare land that could be developed for freedom campers to stay overnight.
The options are limitless – do the numbers, put your thinking cap on and call me for an urgent inspection!
This freehold going concern property and business will be sold and the vendors instructions are they will entertain offers over $750,000 +gst if any.
Please contact specialist accommodation business broker, adrian chisholm, areinz.
Real Property Included
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